Business Directories

GlaxoSmithKline and Novartis said on Monday they had completed a series of asset swaps worth more than $20 billion that will reshape both drugmakers.
GSK is forming a consumer health joint venture with Novartis, while at the same

Bahraini sovereign fund Mumtalakat will not sell any assets or change its investment strategy in response to a likely oil price-driven shortfall in the state budget, it said on Thursday.
The fund holds stakes in Bahraini companies

Technip, a leader in project management, engineering and construction for the energy industry, has completed the sale of its diving assets in the US Gulf of Mexico to Ranger Offshore.
The sale reinforces Technip’s strategy t

Shareholders of Doha Bank have approved the purchase of the Indian assets of HSBC Bank Oman after an extraordinary meeting, the Qatari bank said in a statement on Monday.
HSBC Bank Oman, an affiliate of HSBC Holding, said in April

Shuaa Capital, a Dubai-based financial services provider, has posted a net profit of Dh26.2 million ($7.13 million) during the third quarter of the year as against Dh3.6 million ($978 million) during the same period of 2013, marking a six-fold i

Investcorp is targeting a more than 30 per cent hike in its assets under management (AUMs) in the next five years as Middle Eastern investors increasingly see private equity as a way to diversify out of traditional investment routes.

Property is now a more popular investment asset class than gold for UAE residents, a report said, elaborating that property makes up 53 per cent of investment portfolios, compared with 43 per cent holding traditional asset gold.
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Investcorp, an alternative investment manager based in Bahrain, said on Tuesday it had acquired a portfolio of office and industrial property assets in three cities in the US for around $250 million.
The purchases, done in separat

A British national being sued for $5 million by a subsidiary of Bahrain-based Gulf Finance House (GFH) has had his assets frozen by UK courts.
Former GFH Capital deputy chief executive David Haigh is accused of a breach of contract and